First
Titan Corp. (OTCQB:FTTN) has inked an
oil, gas and minerals option with Mustang Loan Co. for one of Mustang’s
properties near Abilene, TX. The move is part of FTTN’s continuing
strategic efforts to acquire leases at discounts from companies hard hit
by the ongoing oil price downturn.

The field is on the westernmost edge of the
Barnett Shale, the third most prolific shale oil producing region in
Texas. However, some analysts have previously speculated the area may
actually have the
largest producible reserves of any onshore oil and gas field in the
continental United States.

“The market is opening up and several exciting opportunities are coming
into focus,” said FTTN CEO Sydney Jim. “This acreage is located in a
well-known, prolific play. We expect to find additional properties in
the area and want to package them together as part of a larger plan to
begin exploration as the price of oil recovers. We will also continue
due diligence into other possible acquisitions, notably in the
Cline Shale region in west Texas, and in the
Bakken Shale in the north central U.S.”

FTTN’s deal comes as hints continue to surface about a potential oil
price recovery in the near future. An increasing number of industry
watchers are forecasting crude prices will shortly start to rise –
ranging from a low of $80
a barrel in 2016, a medium of $100
a barrel in the near term, to as high as $130
by 2017.

First Titan Corp., through its wholly owned subsidiary, First Titan
Energy, LLC, is committed to the exploration and development of oil and
natural gas resources around the globe. The Company continually seeks to
partner with energy developers that are pursuing innovative new methods
of oil and gas extraction, including the development of new
technologies, cleaner methods and unconventional resources.

Notice Regarding Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: This news release contains forward-looking information within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
including statements that include the words “believes,” “expects,”
“anticipate” or similar expressions. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that
may cause the actual results, performance or achievements of the company
to differ materially from those expressed or implied by such
forward-looking statements. In addition, description of anyone’s past
success, either financial or strategic, is no guarantee of future
success. This news release speaks as of the date first set forth above
and the company assumes no responsibility to update the information
included herein for events occurring after the date hereof.

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